The $50m is a prize fund for the competition as a whole, so even the two winners will not be pocketing anything like that much, whilst the quarter-final losers will trouser a very small fraction of it.

Callum Smith is into the semi-finals of the super middleweight tournament (Picture: Getty)

In short, it has not been confirmed how much the winners of the super middleweight and cruiserweight tournaments will actually take home next year.

‘Between the divisions, there are turn-up fees and there will be a big announcement regarding the money the winner will receive,’ said promoter Kalle Sauerland before the tournament began.

That announcement is still yet to happen.

However, Sauerland went on: ‘Fighters are fighting for millions and millions of dollars.

‘I had discussions with one fighter and I put the pay arrangement on the table. He said “Well it’s not that much,” I said “That’s just to show-up, you get this if you win.” He couldn’t believe it! He started saying what he’d do for millions of dollars. I had to tell him he only has to do one thing — win.’